A man bought a Ford vintage car for Php 519562 on installment basis at the rate of 12% per year compounded annually on the unpaid balance. If he paid a down payment of Php 103649 in cash and proposes to pay the balance in 23 quarterly payments, what should this payment be?

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A: Given Information Number of compounding period (N) = 12 / 6…

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A:

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Q: Which is the answer? show steps with your formulas. Thank you

A: Present value is the current value of future sum of money in lump sum or installments with a stated…

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A: To solve the problem, we need to use the formula for simple interest and compound interest. Simple…

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A: Simple interest is a  basically a quick and easy method to calculate how much interest a loan will…

Q: What interest will be owed on your bank on a loan of P25,500 at the end of 3 years, 7months and 20…

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A:

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Q: Find the accumulated amount of P3,500 invested 6.25% compound monthly at for a period of 5 years.

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A: *SOLUTION :-

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Q: A cash prize was invested 5 years and 5 months ago at 12% compounded semi-annually for a puzzle that…

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Q: recent government study reported that a college degree is worth an extra Php 33753 per quarter…

A: Future worth is the value of the investment at the end of the fixed time. Present worth is the value…